Trump’s second term will mark a turning point for cryptocurrencies
The newspaper indicated that cryptocurrency owners believe that the president-elect and the Republican-controlled Congress will unleash a golden age for them.
She confirmed that owners of cryptocurrencies feel joy; When Bitcoin reached $100,000 for the first time, a month after the election, Eric Trump called his father at six in the morning to inform him of the news. In Dubai, a yellow Lamborghini drove through the streets of the emirate, its hood painted with the words: “BTC 100K THANKS TRUMP.”
Trump’s second son, Eric, confirmed at the “Bitcoin MENA 2024” conference in Abu Dhabi that his father would fulfill his promises to be “the most pro-cryptocurrency president” to date.
According to the newspaper, the revival of cryptocurrencies represented a radical change in fortunes just two years ago, when the collapse of Sam Bankman-Fried’s FTX exchange in late 2022 led to a global crisis that reduced the price of Bitcoin to just $16,000 and prompted many to avoid the industry.
During his election campaign, Trump promised to create a strategic stockpile of Bitcoin, which would in effect turn it into a reserve asset, and to appoint a cryptocurrency advisory board. Paul Atkins, a pro-crypto businessman, has been nominated to lead the Securities and Exchange Commission.
He called himself the “Cryptocurrency President” and promised to fire the Chairman of the Securities and Exchange Commission, Gary Gensler, because of his profusion of lawsuits against crypto companies during the Biden administration. (Al-Mayadeen)
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